Apple has announced that the new iPhone 6 will allow consumers to store credit card information on their phones. The payment method is supposed to be more secure than swiping a card since it uses the consumer’s fingerprint to authorize the purchase along with some in-phone technology to tokenize, or encrypt, the credit card data.
How does it work?
Apple Pay, like Google Wallet, allows consumers to store card information on their smartphones, and then tap the phone to pay on an enabled terminal which uses Near Field Communication (NFC) to communicate with the phone and complete the sale. Here’s a short video of the unveiling of Apple Pay.
In order to accept Apple Pay, you will most likely need to upgrade your terminal or add a pin-pad-like device shown below. The rest is up to the customer!
Questions?
If you are unsure if your current terminal would be compatible or have further questions, please call us at (402) 206-2233 or email us at [email protected].